This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, click the "Reprints" link at the bottom of any article.

January 24, 2013

Spire Investment Partners Adds Chamberlain Group in West Coast Expansion

One of the fastest growing U.S. firms, Spire manages $1.7 billion in assets, while Chamberlain has $200 million in AUM

Registered investment advisor Spire Investment Partners, headquartered in McLean, Va., announced Thursday that it has expanded to the West Coast with the addition of the Chamberlain Group of Irvine, Calif.

Founded in 1997 and privately owned, Spire Investment Partners, which was recently named to the Inc. 5000 fastest growing firms in the U.S., has 41 affiliates in 20 offices around the United States and manages $1.7 billion in assets for high-net-worth individuals, while the Chamberlain Group is an independent financial services firm with clients in Southern California and $200 million in assets under management.

The Chamberlain Group’s advisory business will clear and be custodied primarily at BNY Mellon’s Pershing Advisor Solutions, and the group’s broker-dealer business will be conducted through Spire Securities and Dealer Brokers Services, also A BNY Mellon company. Spire maintains clearing and custody relationships with Fidelity Institutional Wealth Services, Pershing and Schwab Institutional, as well as Fidelity’s National Financial Services and Pershing’s Dealer Broker Services. Spire has also recently engaged Envestnet as a technology partner.

“Our decision to affiliate with Spire came down to several issues,” said Chamberlain Group founder and CEO Michael Kiley (left) in a statement. “First, we run a very sophisticated practice and we chose to partner with a firm that understands the needs of such a practice and its very high net worth clients. Secondly, we chose a firm that understands and uses technology as a lever for growth. Finally, we chose a firm that understands that compliance is an integral and absolutely necessary part of our business, but also understands that we, as partners, are running businesses.”

The Chamberlain Group specializes in wealth management and executive benefits for business owners. For 35 years, Kiley has provided liquidity to pay estate taxes and facilitated the design and architecture of legacy plans. He also has helped structure and fund buy-sell agreements that assure business continuity after the loss of a shareholder, and has designed long-term incentive plans.

Kiley is also a shareholder of the M Financial Group, a Portland, Ore.-based financial services firm serving public and private companies and super-affluent families. He has served as a trustee of the Calamos Family of mutual funds, a Chicago-based money manager known for their convertible bond and growth stock expertise. Kiley now serves as a board member for the M Funds.

“We are thrilled that Mike Kiley and his team chose to join us,” said Spire Managing Director Paul Murphy in a statement. “The opportunity to expand to the West Coast is one we have been seeking for a couple of years now. The Chamberlain Group was the right opportunity and we look forward to helping Kiley and his team continue to grow their business.”